4 Reasons You Should Store Some Precious Metals Outside of New Zealand

New Zealand is seen as a safe, low risk, low corruption location, with a stable government. It is therefore seen as an excellent place to buy and store gold and silver. For these reasons we get expats, and also foreign citizens from the USA and Europe, looking to buy and store precious metals in New Zealand.

But what about for New Zealanders themselves?

Should you also look to store some precious metals offshore and outside of New Zealand too?

If New Zealand is seen as so safe and stable, is there any need for the average Kiwi to consider offshore gold and silver storage?

4 Reasons for New Zealanders to Store Gold and Silver Outside of New Zealand

If we look at the reasons to hold gold and silver offshore, they actually all apply to anyone anywhere in the world. It’s just that some countries may have higher risks than others.

Here’s a few of the reasons for New Zealander’s to hold some precious metals outside of New Zealand borders:

In case you were frivolously sued. Then having some assets offshore would put them out of reach of creditors. As courts in your home country don’t have jurisdiction in places like Austria, Hong Kong, and Singapore. These nations have their own laws, courts, and financial rules. So it makes sense to have some assets that your government or creditors can’t reach.

In a worst case scenario of social unrest. Again this may not seem very likely in little old New Zealand, but should the worst happen and social unrest came about as the result of currency collapse, bank runs, food and electricity shortages. Then you would be glad to have some assets held in another place you could escape to.

So it makes sense to diversify your political risk. But of course first and foremost make sure you’ve got some gold and silver within “arms reach” at home too.

The Next Thing to Consider is Where to Store Gold and Silver Outside of New Zealand?

We’ve identified that the best location for New Zealanders for offshore precious metals storage to be Singapore.

Why Singapore?

Singapore is our pick for storing precious metals outside of New Zealand

Singapore is one, if not the best place to invest and do business in Asia. Everything is much simpler in Singapore. There is minimal regulation to worry about. It consistently features at the top of the low corruption rates globally. Plus its tax structure is very friendly to businesses and investors.

Prices for gold storage are extremely low. Plus Singapore has some top class state of the art storage facilities like the Le Freeport.

Proximity to New Zealand. Well it may still be an 11 hour flight but certainly closer than other preferred jurisdictions for precious metals storage like Switzerland and Austria. But we reckon better to not be in a very closely aligned country to New Zealand like Australia, but still be on a single direct flight route.

No need to visit to buy and set up storage in Singapore. Precious metals can be bought from here in New Zealand and storage facilities can also be set up remotely.